Whyte’s radical savings plan, Auckland iwi turn vultures and a ‘savvy’ poser over dairy farmers

The collapse of bitcoin trading platform Mt Gox puts at risk $43 million of bitcoins linked to a liquidated New Zealand company.

In today’s National Business Review print edition, reporter David Williams reveals liquidators for New Zealand limited partnership Bitcoinica were preparing to sue Japan-based Mt Gox over bitcoins and cash held in frozen accounts.

Bitcoinica ran an online currency and bitcoin exchange platform, but ceased trading in 2012 after a series of security breaches and thefts.

In other news, ACT Party leader Jamie Whyte is making a push for a radical savings plan – he tells political editor Rob Hosking why he thinks the state pension is a ponzi scheme and sets out his own vision for a long-term compulsory savings scheme.

Meanwhile, columnist Michael Coote and property editor Chris Hutching traverse the panic at Auckland Council over the racial extremism of pro-Maori policies in the proposed Auckland unitary plan.

Agri-business reporter Jamie Ball highlights a conundrum for a Commerce Commission investigation into interest rate swaps sold to farmers – how sophisticated are New Zealand dairy farmers in managing their financial affairs.

Speaking of the commission, in Heartland, Jacqueline Rowarth argues an investigation into supermarket behaviour might help consumers realise primary producers have not been acting extortionately.

Shoeshine and Margin Call tackle the upcoming Genesis Energy partial float: passing judgment on the front-loaded IPO structure, running the numbers on the potential offer price and assessing what all this means for the listed market operator NZX’s financial performance.

In Browny Points, former Far North Mayor Wayne Brown reveals his three-point plan for getting Auckland going, addressing the age-old issues of port companies, traffic congestion and business development.

Technology editor Chris Keall picks the winners and losers from Telecom’s push into the TV market, and why it’s good news for the Crown’s ultra-fast broadband company Crown Fibre Holdings.

In a four-page special report, NBR tackles the increasingly competitive world of accountancy and tax – and how plugging global tax loopholes may also hurt New Zealand firms.

Briefly:

  • In Media Watch, David Cohen traverses the scramble for relevance by local television providers and television reviewers, alike.
  • In Initiative Matters, Oliver Hartwich opines New Zealand should use the good times to hedge its bets – and repay government debt.
  • In Foreign Affairs, Nathan Smith compares and contrasts New Zealand and the United States, and ponders what the latter’s isolation means for its involvement in the world.

All this and more in today’s National Business Review. Out now.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7167 0.0000 0.00%
AUD 0.9558 0.0000 0.00%
EUR 0.6432 0.0000 0.00%
GBP 0.5398 0.0000 0.00%
HKD 5.5636 0.0000 0.00%
JPY 73.4440 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1339.0 17.480 2016-07-01T00:
Oil Brent 50.9 1.180 2016-07-01T00:
Oil Nymex 49.0 0.750 2016-07-01T00:
Silver Index 19.6 0.967 2016-07-01T00:

Indices

Symbol Open High Last %
NZX 50 6897.5 6932.1 6897.5 0.42%
NASDAQ 4837.2 4880.2 4842.7 0.41%
DAX 9742.8 9806.5 9680.1 0.99%
DJI 17924.2 18002.4 17930.0 0.11%
FTSE 6504.3 6587.4 6504.3 1.13%
HKSE 20736.8 20828.0 20436.1 1.75%
NI225 15698.0 15765.0 15575.9 0.68%
ASX 5233.4 5278.9 5233.4 0.25%